Gold Moves Higher; Medtronic Posts Upbeat Results

U.S. stocks traded mixed toward the end of trading, with the Nasdaq Composite gaining by around 1% on Tuesday.

The Dow traded down 0.03% to 43,374.79 while the NASDAQ rose 1.03% to 18,985.21. The S&P 500 also rose, gaining, 0.49% to 5,922.41.

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Leading and Lagging Sectors

Information technology shares rose by 0.6% on Tuesday.

In trading on Tuesday, materials shares fell by 0.6%.

Top Headline

Medtronic Plc MDT reported better-than-expected results for its second quarter and raise its outlook.

The company posted second-quarter 2025 sales of $8.40 billion, beating the consensus of $8.27 billion. The medical device maker reported adjusted EPS of $1.26, beating the consensus of $1.25.

Medtronic raised its fiscal year 2025 organic revenue growth guidance to 4.75%-5%, up from the prior 4.5%-5%. If recent foreign currency exchange rates hold, 2025 revenue growth on an adjusted basis would be 3.4%-3.9%. Medtronic expects 2025 adjusted EPS guidance to be $5.44-$5.50 versus previous guidance of $5.42-$5.50 and consensus of $5.45.

Equities Trading UP
                       

• Super Micro Computer, Inc. SMCI shares shot up 29% to $27.84 after the company announced the appointment of BDO USA as its independent auditor and the filing of a compliance plan with Nasdaq.
• Shares of PainReform Ltd. PRFX got a boost, surging 172% to $1.4600. The company announced a 1-for-4 reverse stock split.
• Interactive Strength Inc. TRNR shares were also up, gaining 30% to $3.30. The company, which makes specialty fitness equipment under the CLMBR and FORME brands, disclosed that Armah Sports Group‘s B_FIT is installing CLMBRs in three of its nine locations in Saudi Arabia.

Equities Trading DOWN

• NWTN Inc. NWTN shares dropped 12% to $1.06. NWTN received Nasdaq staff delisting determination for non-compliance with Listing Rule 5250(c)(1).
• Shares of Incyte Corporation INCY were down 13% to $66.74 after the company announced that data from its Phase 2 study evaluating MRGPRX4 (INCB000547) in cholestatic pruritus does not support further development.
• Codere Online Luxembourg, S.A. CDRO was down, falling 11% to $6.77 after the company received a Nasdaq delisting notice due to its public reports rule.

Commodities

In commodity news, oil traded down 0.1% to $69.12 while gold traded up 0.7% at $2,632.40.

Silver traded up 0.3% to $31.305 on Tuesday, while copper rose 0.6% to $4.1435.

Euro zone

European shares closed lower today. The eurozone's STOXX 600 fell 0.45%, Germany's DAX fell 0.67% and France's CAC 40 fell 0.67%. Spain's IBEX 35 Index fell 0.74%, while London's FTSE 100 fell 0.13%.

Hourly labor costs in the Eurozone rose by 4.6% year-over-year in the third quarter compared to a revised 5% gain in the prior quarter. Annual inflation in the Eurozone rose to 2% in October from 1.7% in September.

Asia Pacific Markets

Asian markets closed higher on Tuesday, with Japan's Nikkei 225 gaining 0.51%, Hong Kong's Hang Seng Index gaining 0.44%, China's Shanghai Composite Index gaining 0.67%  and India's BSE Sensex gaining 0.31%.

Malaysia’s trade surplus narrowed to MYR 12.0 billion in October from MYR 13.0 billion in the year-ago month.

Economics

• Housing starts in the U.S. declined by 3.1% to 1.311 million in October versus a revised 1.353 million in the previous month.
• U.S. building permits declined by 0.6% to an annual rate of 1.416 million in October.

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